Airport Moving Walkways Market Size
Airport Moving Walkways Market size exceeded USD 2 billion in 2019 and is projected to grow at more than 3% from 2019 to 2026.
Globalization and rising travel & tourism demand worldwide will drive the market growth.
To obtain key market trends
Airport moving walkways (MW) or travelators are popular in retail locations like airports, supermarkets & hypermarkets, railway stations, etc. due to its main benefit of time saving. These items have been rendered operational in the airports prior to 1950’s and continue to grow in popularity in most public areas worldwide. Moving walkways consist of slow-speed conveyor system that move individuals over horizontal or inclined plane over shorter distance and help individuals in reaching at desired destination at airports.
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Airport Moving Walkways Market Report Attributes
Report Attribute Details
Base Year 2019
Airport Moving Walkways Market Size in 2019 2.19 Billion (USD)
Forecast Period 2020 to 2026
Forecast Period 2020 to 2026 CAGR 3.4%
2026 Value Projection 2.76 Billion (USD)
Historical Data for 2016 to 2019
No. of Pages 139
Tables, Charts & Figures 146
Segments included
Type, Inclination Angle, Speed, Region
Growth Drivers
Growing passenger traffic at airports
Growing product demand in the Middle East &Africa
Growing investment for airport development & enhancement
Pitfalls & Challenges
High capital & maintenance cost
What are the growth opportunities in this market?
Growing air passenger traffic fueling demand for travelators at airports
Rising air passenger demand because of increasing requirement for travel and tourism along with globalization trends will drive the airport moving walkways market growth. Air passenger traffic globally has been projected to reach at 8.2 billion individuals by 2037, which is nearly double compared to 2017. This will generate demand for improved infrastructure and transport in near future, which will further enhance the market.
An alternate significant growth-facilitating aspect is rising concentration towards airport upgrade and expansion programs in leading countries. International airport investment will find its way towards more than USD 45 billion by 2022, and that includes the development of new airports as well as terminal enlargement projects.
For example, Manchester Airport, UK’s third largest business airport has decided to increase its terminal 2 by investing USD 1.3 billion in 2019. Such a trend will create key opportunity for the manufacturers of travelators in the future years.
Despite growing popularity of autowalks in major world airports, problems related to increased set up and maintenance cost will hinder the growth of the market. Excessively high components like truss, handrail, tracks, safety devices, step chain, braking system, etc. bring the purchasing expenditure of the owners of airports dramatically high.
These products also need extensive periodic maintenance to guarantee smooth functioning of the system. Nevertheless, increased product use in airports in a bid to handle the passenger flow efficiently will dictate airport moving walkways industry demand.
Airport Moving Walkways Market Analysis
Pallet type airport moving walkways will hold over 80% market share during the forecast period. The major characteristics of high durability in addition to strong nature is driving the product demand at the airports. Pallet type travelators are made up of series of metal plates attached to one another to create a continuous walkway and are essentially flat elevators.
Discover more about the prominent segments influencing this market
Horizontal MWs would be growing at a CAGR of 3.5% until 2026 because of its increasing application at the airports for moving people from one terminal or concourse to another. This product has an inclination angle varying between 0º to 6º. Increasing passenger traffic at airport terminals would also fuel the demand for these products.
High-speed airport moving walkways (AMW) have gained enormous prominence in the airports due to its simplicity of operation compared to constant MW. These walkways have combination of acceleration and deceleration phases, which provides excellent flexibility to the passengers at the beginning and end point of the autowalks. Additionally, these product travels at slightly higher speed than the traditional products that heavily saves the time of passengers at the airport terminals.
Find out more about the most influential segments driving this market
Asia Pacific is expected to hold over 40% of the airport moving walkways market share until 2026, with growing emphasis on the construction of new airports and airport upgrade projects in the region.
Key nations like China, India, Japan, etc. have witnessed growth in the number of air passengers through air travel during the last three years. All these trends are driving the new airport demand within the Asia Pacific, which further will fuel the market revenue.
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Airport Moving Walkways Market Share
Key participants in the airport moving walkways market includes
- Kone Corporation
- Otis Elevator Company
- Schindler Group
- Thyssenkrupp AG
- Hitachi
- Hyundai Elevator Company
- Mitsubishi Electric
These players use different strategies including acquisitions, expansion, product development, etc. to remain competitive in the market. Furthermore, the industry is at nascent stage and is dominated by very few players owing to high operational and production cost involved.
Major companies have also received airport expansion and improvement contracts from various airports across the world in the past, which will further drive the market demand in near future. For instance, Schindler completed an installation of 62 moving walkways at Daxing International Airports (China) in 2019, which will further lessen the passenger travel time in near future.
